Zinka Logistics Solution Limited (MAINBOARD)

Nov 13, 2024 - Nov 18, 2024

Premium	₹0
Price	₹259 - ₹273
Lot size	54
Allotment	Nov 20, 2024
Listing	Nov 22, 2024

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	54	14742	75572
sHNI	14	756	206388	2699
bHNI	68	3672	1002456	5398

Last updated on 18-Nov-2024 18:45:08

Category	Offered	Applied	Times
QIBs	12242611	33268698	2.72
HNIs	6121305	1490292	0.24
HNIs 10+	4080870	740826	0.18
HNIs 2+	2040435	749466	0.37
Retail	4080870	6941808	1.7
Employees	26000	256878	9.88
Total	22470786	41957676	1.87

Application-Wise Breakup (Approx. no. of Apps)
Category	Reserved	Applied	Times
HNIs (10L+)	5398	116	0.02
HNIs (2-10L)	2699	869	0.32
Retail	75572	124434	1.65
Employee	-	3931	-
Total Applications: 129350
© IPO Premium

Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIBs	334.22	908.24	2.72
FIIs	-	467.08	-
DIIs	-	30	-
Mutual funds	-	401	-
Others	-	10.16	-
HNIs	167.11	40.68	0.24
HNIs 10+	111.41	20.22	0.18
HNIs 2+	55.7	20.46	0.37
Retail	111.41	189.51	1.7
Employees	0.71	7.01	9.88
Total	613.45	1145.44	1.87

QIB Interest Cost per share (7 Days)
@7% ₹1	@8% ₹1.14	@9% ₹1.28	@10% ₹1.42	@11% ₹1.57	@12% ₹1.71

About

BlackBuck IPO Details

Issue Size	40,832,320 shares (aggregating up to ₹1,114.72 Cr)
Fresh Issue	20,146,520 shares (aggregating up to ₹550.00 Cr)
Offer for Sale	20,685,800 shares of ₹1 (aggregating up to ₹564.72 Cr)
Employee Discount	Rs 25 per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	156,330,160
Share holding post issue	176,476,680

BlackBuck IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not less than 75% of the Net Issue
Retail Shares Offered	Not more than 10.00% of Net Issue
NII (HNI) Shares Offered	Not more than 15.00% of the Net Issue

Key Performance Indicator

KPI	Jun-24	Mar-24	Mar-23
ROE	9.93%	-53.64%	-67.16%
ROCE	1.50%	-33.84%	-45.03%
RONW	9.93%	-53.64%	-67.16%
D/E	0.47	0.56	0.47
EPS (Basic)	1.76	-9.06	-12.93
P/E (Pre IPO)	-22	-22
P/E (Post IPO)	37.2	-24.84

Company Financials

Zinka Logistics Solution Limited Financial Information (Restated Consolidated) In Crores.

Zinka Logistics Solution Limited's revenue increased by 62% and profit after tax (PAT) rose by 33% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	Jun-24	Mar-24	Mar-23	Mar-22
Assets	629.41	654.32	654.25	899.68
Revenue	98.33	316.51	195.09	156.13
Profit After Tax	32.38	-193.95	-290.5	-284.56
Net Worth	344.98	311.29	352.66	585.08
Reserves and Surplus	339.07	311.03	66.55	377.58
Total Borrowing	161.01	173.74	165.84	199
Amount in Crore

About Company

Founded in April 2015, Zinka Logistics Solution Limited, operating as BlackBuck, is a leading digital platform for truck operators in India, enabling seamless services across payments, telematics, a load marketplace, and vehicle financing. In FY 2024, 963,345 truck operators, representing 27.52% of the total truck operators in India, engaged with BlackBuck's services, illustrating its substantial market presence. Through its app, the company processed a gross transaction value (GTV) of Rs 173,961.93 million in payments by March 31, 2024. BlackBuck also supports logistics efficiency with an average of 356,050 active telematics devices monthly, helping operators manage routes and fleet performance. In the vehicle financing domain, the company has facilitated 4,035 loans totaling Rs 1,967.88 million and extends financing services to customers across 48 districts in seven states, enhancing accessibility for truck operators nationwide. As of March 31 2024, the company's workforce consists of 4,289 people.

Lead Manager(s)

Axis Capital Limited
Morgan Stanley India Company Pvt Ltd
Jm Financial Limited
Iifl Securities Ltd

Strength

Market Leadership: As India's largest platform for digital truck operators, Zinka Logistics Solution Limited (BlackBuck) has a significant competitive edge and extensive market reach.

Extensive Network: With over nine years of operation, BlackBuck has built a vast and reliable network of truck operators, ensuring wide-scale service accessibility across the country.

Innovative Solutions: BlackBuck addresses market gaps with new offerings like telematics, payments, load marketplaces, and vehicle financing, meeting diverse customer needs and enhancing operational efficiency.

Weakness

History of Losses and Cash Flow Issues: Both the company and its subsidiaries, TZF Logistics Solutions and BlackBuck Finserve, have experienced past losses and negative operating cash flows, indicating financial challenges.

Reliance on Key Business Partners: The company’s revenue is highly dependent on partners in the payments segment, contributing 45.26% of total revenue in FY 2024. Losing any major partner could significantly impact financial performance.

Dependence on Core Offerings: Payments and telematics services accounted for 94.53% of total revenue in FY 2024. Any adverse changes in these areas could materially affect the company’s business and financial health.

Registrar

Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: zinka.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/